Venezuelan Navy Approaches Exxon Mobil Vessel Off Guyana Coast

(Bloomberg) -- The Venezuelan patrol ship that entered Guyana’s waters Saturday and positioned itself near a vessel contracted by Exxon Mobil Corp. in the Stabroek oil block has departed the area, according to the Guyana Defence Force.

Stabroek, the world’s fastest-growing major oil field with about 11 billion barrels of recoverable resources, sits in waters partially claimed by Venezuela. In 2023, Venezuelan President Nicolas Maduro stoked tension by seeking a referendum on laying claim to a large part of Guyana. 

“The vessel is still in our waters,” said Brigadier Omar Khan, head of the Guyana Defence Force, adding that “from all indications, it is heading toward Venezuela.” 

The US State Department called the threat by Venezuela unacceptable. “Further provocation will result in consequences for the Maduro regime,” the department’s Bureau of Western Hemisphere Affairs said on X, without elaborating.

Guyana’s president, Irfaan Ali, said the armed patrol ship transmitted a radio message informing the vessel that it was operating in disputed international waters before continuing its course to other vessels in the area.

“During this incursion, the Venezuelan vessel approached various assets in our exclusive waters, including FPSO Prosperity,” Ali said, referring to one of the Exxon-contracted vessels. 

Exxon discovered Stabroek in 2015. The territorial dispute, which dates back more than a century, flared up as Maduro sought to galvanize supporters for last year’s presidential election, where he claimed victory in what observers called a stolen vote. Exxon didn’t immediately respond to requests for comment.

Delcy Rodriguez, Venezuela’s vice president, lashed back at Ali, calling him “the Caribbean Zelensky” in reference to Ukrainian President Volodymyr Zelenskiy. Rodriguez said in a statement that the waters are not part of Guyana but instead “a maritime zone pending delimitation in accordance with international law”.

Khan said the Guyana Defence Force is monitoring the course of the vessel. It previously deployed aircraft over the area and sent a Coast Guard vessel to the area. 

Ali told Bloomberg News he had informed lawmakers and was briefing Guyana’s international partners, including the US.

The Organization of American States “unequivocally condemns the recent actions of Venezuelan naval vessels” threatening Exxon-operated production units in Guyana’s waters, the OAS said in a statement.

“Such acts of intimidation constitute a clear violation of international law, undermine regional stability, and threaten the principles of peaceful coexistence between nations,” according to the OAS.

Ali said Venezuela’s ambassador to Guyana has been summoned to a meeting and Guyana would send a formal protest to the Venezuelan government.

The Stabroek oil block is producing 650,000 barrels a day. It is also the seat of a significant gas discovery at Longtail with an estimated output of 1 to 1.2 billion cubic feet daily.

In 2023, Guyana’s government provoked Maduro by saying it would award new oil blocks by the end of the year. The Maduro government said some of those blocks are in waters that have not been delimited, or belong to Venezuela, reigniting the border dispute.

US President Donald Trump this week said he plans to revoke Chevron Corp.’s oil license to operate in Venezuela, threatening to torpedo the nation’s slow economic recovery.

“Venezuela’s development does not depend on the Americans,” Maduro said Thursday, without referring to Chevron directly. “We don’t kneel down to anyone.”

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